Ringier AG and Axel Springer AG have announced today that they will combine their operations in Poland, the Czech Republic, Hungary, Slovakia and Serbia and create a new company to be headquartered in Zurich.
Each partner will hold 50 percent of the new company. With sales on a pro-forma basis for 2009 totalling approximately EUR 414 million, an EBITDA of EUR 62 million, and 4800 employees, the company is expected to go public in three to five years.
Axel Springer will contribute the business of its subsidiaries in Poland, the Czech Republic, and
Hungary, while Ringier will bring its operations in Serbia, Slovakia, the Czech Republic, and Hungary to the joint 
venture. (Photo above: Mathias Döpfner, left, CEO of Axel Springer AG, and Christian Unger, CEO of Ringier AG, after signing the contract.) As a result, both companies will significantly enhance their strong position in these growth markets with more than 100 print and 70 online publications. Together they also have a market leadership on the tabloid newspaper segment with the Fakt brand (Axel Springer) and the 'Blick' family (Blesk, Blikk, Blic, Novy Cas...) from Ringier.
The Board of Directors, chaired by Ralph Büchi, President Axel Springer International, will consist of two representatives each from Ringier AG and Axel Springer AG. (The joint venture will be headed by Florian Fels, 42, photo left, currently CEO Central Europe of Ringier AG.)
“The two companies are an excellent match, both with respect to their competence in content and in their strategic interest. Under the guidance of the same management they are now joining efforts to take advantage of the growth opportunities of the digital transformation, which offers additional development prospects,” states the official announcement from the company.
(attached is a presentation made at their press conference on March 24)
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